TAX COURT CASE OF LINDSEY JONES

Tax Court case of Lindsey Jones. The issue in this case is whether a valid tax return would have been filed if one spouse filed for both spouses, when only one spouse signs for both of the spouses. Lindsey Jones and Noah Pike were married in 2022 and filed joint tax returns during their marriage. […]

AICPA TESTIFIES TO CONGRESS ON IRS SERVICE

AICPA testifies to congress on IRS service. “There’s still time to salvage this year’s tax filing season, or at least some of it if that makes a difference, if the IRS adopts recommended taxpayer Tax help measures”, said Jan Lewis, CPA, the chair of the AICPA’s Tax Executive Committee, told the U.S. Senate Committee Finance […]

TAX REFUND DELAYS CAUSE ANXIETY

Tax refund delays cause anxiety. Plenty of people file in February because they just can’t wait to get their hands on all that tax refund cash. They’re on edge about the size of their IRS tax refunds, and they’re far from alone. Roughly 60 million individual tax filers typically file a federal income tax return […]

FINAL REGULATIONS ON OPPORTUNITY ZONES

Final regulations on opportunity zones. After considering over 300 formal comment letters and additional taxpayer feedback, the Treasury Department and IRS have issued final regulations on Opportunity Zones to provide clarity and certainty for investors and communities. Final regulations on opportunity zones. What types of gains may be invested and when ?   As a […]

TAX PROBLEMS LENDING TO FAMILY

Tax problems lending to family. Many people are happy to lend money to their loved ones, especially to children and grandchildren. But before stroking the check, review the tax rules. The tax consequences vary greatly depending on the terms of the loan. A small change in the terms of the loan can men big differences […]

IRS PRIVATE DEBT COMPANIES

IRS private debt companies. We started discussing the IRS using private debt companies back when George Bush Jr. was President. The Republican’s wanted to outsource government functions to private industry to cut costs, but ultimately the idea didn’t work out for some simple reasons. Now, many years later, forgetting the lessons of history, and especially […]